Board studies $350 million Measure EE bond plan, timeline and project priorities

At a board meeting, Los Altos School District trustees reviewed the district—s Measure EE bond program, a $350 million authorization voters approved, and discussed how and when the district would issue bonds, sequence construction and prioritize projects across campuses.

The study session featured a presentation from the district—s financial adviser, Makiko of Ispent Advisors, who described a financing plan that assumed four bond series issued roughly every two years (series in 2025, 2027, 2029 and 2031) and estimated an initial Series A near $90 million. Makiko said the layered-series approach lets the district match issuance to assessed valuation growth, spread interest-rate risk and meet federal tax-law spending rules that require a district to expect to spend most bond proceeds within three years of issuance.

District staff presented program-management steps the board must approve or direct next: release and review of requests for qualifications for program-management services (RFQs due the day after the meeting), hiring architects and engineers, updating district construction standards, and creating a pipeline of projects so design and construction overlap and cash flow is predictable.

Trustees and staff repeatedly emphasized three…